Furthermore, it could help to foster sustainable growth and improve connectivity, ensuring that the benefits extend well beyond Athens itself. What were some of the unique challenges of structuring this bond loan for Athens International Airport? The terms and conditions of the new bond loan were based on the precedents of the existing bond loans of AIA with the Greek systemic banks, yet a negotiation took place between the parties in respect of business issues including also structural points. Also, the designation of the required expansion bond loan as “Designated Debt” for the purposes of the Airport Development Agreement added to the complexity of the transaction, entailing also the preparation of additional contractual documents. Further, in addition to the determination of the terms of the new bond loan a parallel exercise had to be carried out, in respect of the alignment of the terms of the existing bond loans and the new loan, preserving at the same time their autonomy and individual elements. The above entailed the collaboration of both local and international counsel with the company and the separate teams of the banks (Alpha Bank on the new bond loan and the syndicate of the banks in respect of the amendments to the existing loans) representing them in the parallel workstreams described above. How does Koutalidis plan to continue supporting AIA and Alpha Bank throughout the expansion process? We will continue advising Alpha Bank in respect of the drawdowns that will take place throughout the duration of the bond loan, particularly by reviewing the relevant conditions precedent and preparing the necessary documents, including any legal opinions required thereto. We will also support the transaction in case any amendments to the contractual documents are required and generally in respect of any postclosing matters that may occur. By offering tailored legal support and accumulating previous experience on AIA’s financings, we can help ensure that both AIA and Alpha Bank successfully navigate the complexities of the project, mitigate risks, and achieve their strategic objectives. We would be committed to providing both proactive and reactive legal counsel throughout the entire lifecycle of the expansion, helping to create a world-class airport while safeguarding the interests of all stakeholders involved. destinations around Greece. Also, the expansion will create both direct and indirect employment opportunities. Direct jobs will be generated in airport operations, construction, and management, while the indirect impact will be seen in sectors such as hospitality, retail, and transportation services. As tourism is a significant contributor to Greece’s GDP, the expansion of AIA could be a catalyst for broader economic growth. Also, the expansion in transport infrastructure supports the country’s broader economic development strategy, particularly in tourism-dependent regions. All in all, the airport’s expansion is expected to have a transformative effect on Greece’s tourism and transport sectors. By enhancing infrastructure, increasing capacity, and improving passenger experience, the expansion will attract more tourists, boost local and national economies, and strengthen Greece’s position as a major European and Mediterranean hub for travel. 74 LAWYER MONTHLY DECEMBER 2024 By offering tailored legal support and accumulating previous experience on AIA’s financings, we can help ensure that both AIA and Alpha Bank successfully navigate the complexities of the project, mitigate risks, and achieve their strategic objectives.
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